This presentation looks at the impact on implementing a guarantee income model for Canada. Welfare is important program, but it needs to be assess as part of supporting wealth distribution.
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Should Canada moved to Guarantee Income Model - April 2017
1. Guarantee Income – Welfare –
Canada – April 24, 2017
Paul Young, CPA, CGA
Date: April 24, 2017
2. Agenda
• What is guarantee income
• Supply Chain Flow with Consumers and income
• Wages, Housing Prices and Inflation
• Average Wages / Canada
3. What is guarantee income
• Guaranteed minimum income (GMI) (also called
minimum income) is a system of social welfare provision
that guarantees that all citizens or families have an income
sufficient to live on, provided they meet certain conditions.
Source - Wikipedia
4. Ontario Guarantee Income
• Volunteers in Peterborough and the City of Kawartha Lakes
have been lobbying to be test communities for Basic Income
Guarantees, a program that ensures every resident has enough
money for food, rent and other necessities. The goal of the
program is to create a healthier population so there are fewer
demands on health and other social services when people fall
into crisis.
• Retired Senator Hugh Segal’s report on a minimum income for
Ontario was released in November. It would see Ontario set up
a multi-year pilot to measure its effectiveness starting in April,
2017. Segal recommends a monthly payment of at least $1,320
for a single person which is about 75 per cent of the province’s
poverty line.
5. Supply Chain Flow
Consumers
Retail Stores
Wholesalers Manufacturers
Analysis
• Employment Income
• Business Income
• Pension Income
• Social Welfare Payments
8. Wage Growth
Spencer Fernando – April 8, 2017
As reported by Bloomberg, average hourly wage increases were up
1.1% year-over-year, which was the lowest increase since 1998. It is
also far below the historical average of 2.7% in the last 10 years.
When looking further into the numbers, things are even worse for
permanent workers. They had the lowest wage growth since 1997.
And when it comes to the province-by-province picture, the increase in
Ontario was only 0.1% year-over-year, which is the lowest increase
ever recorded.
So much for Sunny Ways!!
11. Energy Poverty – Premier Wynne
• There has been no shortage of industry experts or professors
on this show over the years that warned we were heading for
energy poverty.
• Why did she ignore the catastrophic confirmation from
experts, including her own party sources, and continue to
double down while wallowing in her majority?
• Why did they not scrap the act that lacked due diligence,
along with cost analysis, and start over?
• Wynne play on people’s sensitivity for the environment
Global News – Scott Thompson – March 28, 2017
15. Summary
• https://www.youtube.com/watch?v=0UrgSeNDCPo
• http://www.metronews.ca/news/winnipeg/2016/03/03/winnipeg-mp-
petition-for-guaranteed-income.html
• The MP table the change has said nothing about the $185B that is
already available to various groups as part of the income re-
distribution. We have seen in Scandinavia countries that if you
change income with people then it does not motivate them to
achieve more in life.
• Let's face facts current programs that support low income except for
minimum wage are paid out a tax bucket. So, if you make changes
then you likely going to either change threshold for people or you
are going take control of the money and lump into one group of
people. The problem with guarantee income it means different
things to different groups of people.